Urban Partners Acquires 21,500 Sqm Mixed-Use Asset in Copenhagen from Hines

Urban Partners has acquired a 21,500 sqm mixed-use property in inner-city Copenhagen from Hines, a global real estate investment manager, the firms announced April 27. The asset at Købmagergade 44A comprises a 243-room upper-upscale hotel with a food and beverage offering, approximately 3,100 sqm of high-street retail space, and around 1,000 sqm of residential units.

Property Details and Location

The property sits on Købmagergade, Copenhagen's busiest high-street retail corridor, near Rundetaarn — one of the city's most visited landmarks. The surrounding area draws high pedestrian traffic and is an established retail destination. The historic buildings, which date to the 18th and 19th centuries, were most recently renovated in 2022 following a comprehensive redevelopment and repositioning effort by Hines since its acquisition of the asset in 2018.

Thomas Riise-Jakobsen, Partner and Head of Denmark at Urban Partners, described the rationale for the acquisition: "This is a well-located mixed-use property in central Copenhagen. Hines has carried out an extensive redevelopment of the historic buildings, with a strong focus on preserving their architectural and heritage qualities. The asset forms part of a dense and established urban environment and reflects the mixed-use character of the surrounding city."

Hines Exits After Redevelopment

Hines acquired the property in 2018 and oversaw a full redevelopment and repositioning of the asset over the following years, leveraging its integrated development and asset management platform. The sale represents the conclusion of that investment cycle.

Staffan Unge, Senior Managing Director and Head of Nordics at Hines, commented on the transaction: "Across the full lifecycle of the investment, from acquisition through redevelopment, this was a hands-on project across development, leasing, and asset management. That work transformed a historic property into a well-functioning mixed-use asset anchored by a hotel and high-street retail. We believe Urban Partners is well-positioned to take the asset forward into its next phase. Looking ahead, we continue to assess opportunities across the Nordics, as we expand our presence and allocate capital across multiple asset classes, subject to market conditions and investment risk."

The transaction follows what Hines described as an active period of Nordic transactions during 2025. Financial terms of the deal were not disclosed.

Copenhagen Hotel and Retail Market Context

The acquisition comes against a backdrop of sustained growth in overnight stays in Copenhagen, driven primarily by leisure travel and the city's continued appeal as an international destination. At the same time, planning constraints in the inner city have limited new hotel development in central locations, restricting the addition of new supply.

The Købmagergade location benefits from high pedestrian traffic and is an established retail destination, as noted in the announcement.

Advisors

In the transaction, Hines was advised by Cushman & Wakefield | RED and Bruun & Hjejle. Urban Partners was advised by Accura as legal advisor, PwC as financial advisor, ABC as technical advisor, NHC as commercial advisor, and Nordea as debt advisor.